Deals18 Oct 2025, 07:41 pm
Galaxy Agrico Exports Ltd. to Consider Slump Sale Agreement on 27/10/2025
AI Summary
Galaxy Agrico Exports Ltd. has announced that its Board of Directors will meet on 27th October, 2025 to consider and approve the Draft of Slum Sale Agreement. This agreement is for the sale and transfer of the business undertaking of the Company, which comprises the business of manufacturing and trading activity of Agricultural Equipments and Bearings (Forged Rings), including the balance of plant, as a going concern on a slump sale basis. The sale includes all related assets, liabilities, licenses, consents, approvals, employees, and contracts. The buyer, Forgex Rings Private Limited, is a non-related entity. The Company will update the outcome of the Meeting immediately upon its conclusion.
Key Highlights
- Galaxy Agrico Exports Ltd. to consider Slum Sale Agreement on 27th October, 2025
- The sale includes the business of manufacturing and trading activity of Agricultural Equipments and Bearings (Forged Rings) and related assets and liabilities
- The buyer, Forgex Rings Private Limited, is a non-related entity
- The Company will update the outcome of the Meeting immediately upon its conclusion
- The sale is in accordance with Section 2(42C) of the Income-tax Act, 1961